Best Sports Betting Odds In Texas

Texas sports betting has yet to be legalized, but you can expect several sportsbooks including DraftKings Sportsbook, BetMGM, and FanDuel Sportsbook to launch and offer betting odds once that happens. Sports betting odds in Texas are calculated by oddsmakers at sportsbooks.

Betting lines consist of the spread, moneyline, and total. Here is a real-world example of a betting line at DraftKings on Game 6 of the Suns-Mavericks series in the NBA Playoffs 2022:

The Mavericks were getting two points on the spread as a slight underdog at home. The total is the combined number of points scored by both teams. It was set at 213.5 and you could have bet over or under that number. A moneyline bet only requires your team to win the game outright. 

Where Can I Bet On Sports Online In Texas?

In states where sports betting is legal, the easiest way to do this is by downloading an app from BetMGM, DraftKings, or FanDuel. After registering and funding your new account, you will have everything you need, including bonus information, to bet online at your fingertips. Since betting isn’t legal in Texas, bettors in the state must cross state lines into Louisiana.

DraftKings Texas

• Sign-up bonus: $50 bonus bet on a minimum $5 deposit, and 20% deposit match up to $1,000
• Available platforms: iOS, Android, and desktop
• Pro: Competitive betting markets from top to bottom

BetMGM Texas

• Sign-up bonus: $1,000 bonus bet
• Available platforms: iOS, Android, and desktop
• Pro: Highly competitive odds

FanDuel Texas

• Sign-up bonus: $1,000 bonus bet
• Available platforms: iOS, Android, and desktop
• Pro: Very competitive odds on a wide selection of sports

Texas Betting: Types Of Sports Bets

We’ve touched on the spread, moneyline, and total, in a standard betting line, but let’s examine moneyline bets in greater depth.

Moneyline Bets

As mentioned earlier, moneyline bets only require your team to win. They don’t involve the addition or subtraction of points from a team’s final score as on the spread. Using our example above, the Suns were -130 and the Mavericks were +110 on the moneyline in Game 6. What does that mean? You could have bet $130 on the favored Suns to win $100. You could have also wagered $100 on the underdog Mavericks to win $110. Remember, the team just needs to win the game to cash the bet.

Point Spread

Point spread betting involves addition or subtraction from a team’s final score. The Suns were laying two points on the spread. This simply means they needed to win by three points to cover the spread. Betting on the spread is one of the most popular forms of sports wagering.

Conversely, the Mavericks were getting two points on the spread. They could have lost by one point and they still would have won on the spread. Note the -110 odds assigned to both sides of the spread bet. These are standard odds, meaning you have to bet $11 to win $10. Sportsbooks charge a fee to handle your bet. This is called the vig, and at standard -110 odds, it computes to 4.36%.

Over/Under Bets

These are also known as totals. The total was 213.5 for this game. An over bet would have required at least 214 points to have been scored by both teams. The under bet would have required no more than 213 points to be scored.

This is a good time to mention the importance of comparing odds at different sportsbooks to get the best numbers on your bets. It’s advisable to have multiple accounts at different sportsbooks so you can shop around the sports betting market. Over bettors always want the lowest number available, and under bettors will always seek the highest number for these bets. For example, if BetMGM offered a total of 214.5, you’d make the under bet there instead of DraftKings because that number is more favorable for your wager.

Parlays

Parlays involve multiple wagers in a single bet. You could have bet $100 on the Suns -2 and the over 213.5 to win $260. If both of these outcomes happened, you would have won your bet at odds of 2.6-1. Parlays pay out more with each additional leg added, but they are inherently harder to win when you add more outcomes to the equation.

A three-team parlay pays 6-1, and a four-team parlay pays 11-1, but every team you bet needs to cover the spread or win on the moneyline for the parlay bet to be successful. Be sure to utilize parlay calculators online. They’re free to use and give you the implied probability of winning, your potential payout and odds for your parlay bet.

Prop Bets

Prop, or proposition, bets are not tied directly to the outcome of a game or event. Betting on the Super Bowl MVP is a good example of a prop bet. Here were the odds on Super Bowl LVI MVP this year:

L.A. Rams wide receiver Cooper Kupp had two touchdowns and won the Super Bowl MVP award at odds of +900 (or 9-1). A $100 bet on Kupp returned $900 and your original stake of $100.

Player Props

There are also prop bets offered on individual player performances. In the NBA, for example, these can be based on the number of points, assists, or rebounds a player will have during a game. In MLB, props are available on a variety of things including the number of strikeouts, hits, or home runs a player will have. You’re betting over or under a fixed number on these bets.

Texas Live In-Game Betting

Live bets are made after a game has started. Sportsbooks offer new and adjusted odds based on how the game is progressing. These bets are also known as in-game wagers, and they can be made on the spread, total, moneyline, and more.

It’s important to note here that a speedy sports betting app is required for a good live betting experience. This is a fast-paced style of wagering, and odds can appear and disappear just as quickly depending on the volume of live bets coming from BetMGM, DraftKings, FanDuel, and all offer superior live betting platforms due to the strength of their apps.

How Sports Betting Odds Work In Texas

Sports betting lines are available at all major sportsbooks including BetMGM, DraftKings, and FanDuel. Odds in sports betting are determined by oddsmakers at sportsbooks. The odds can work differently depending on the sport. Let’s examine how they work in the following sports.

NFL Odds

Football betting is the industry leader in the US. The NFL is the most popular sports league to bet on, period. Betting on the spread, moneyline, and total for each game is commonplace. You will also find futures odds on all 32 NFL teams to win the Super Bowl at any given time of the year. Here are BetMGM’s odds on the next Super Bowl champion from early May:

For the sake of brevity, we’ve only listed the top-10 betting favorites. Do you like the Cowboys and think they’ll win Super Bowl 57 next year? A $100 bet will pay out $1,600 if Dallas wins its first Super Bowl since 1996. Super Bowl odds can fluctuate greatly during the course of a 17-game regular season. You need to compare these odds at different sportsbooks as they change more than odds on the spread or total.

NBA Odds

The NBA is another popular betting option. NBA betting picks can also be made on the spread, moneyline, and total for each game. At the time of this writing, the NBA Playoffs were underway and only eight teams remained. Here were the NBA Championship odds from FanDuel as of May 11.

NBA Championship Odds (FanDuel)

The Golden State Warriors were the betting favorite at +200. You could have doubled your money at those odds if the Warriors captured the series, which they did. Golden State had a commanding 3-1 lead over Memphis in their series during the conference semifinals. You’ll notice that the Grizzlies were the longest shot on the oddsboard as a result. A $100 bet on Memphis would pay out $7,500 if the Grizzlies had found a way to come back and win the NBA Championship.

MLB Odds

Major League Baseball features the longest season of the four major professional sports in the US at 162 games. MLB betting lines and World Series odds are both very popular from April through October. Starting pitchers are a critical factor in the betting lines in baseball. Let’s use the betting line from the Royals-Rangers game on May 11 to illustrate how MLB odds work.

The Rangers were the favorite in this game at home. Moneyline bets are common in baseball. Sportsbooks walk a fine line between offering enticing odds for bettors while keeping an eye on their theoretical hold. This is the expected profit they hope to realize from each betting market. The theoretical hold based on the moneyline odds above is 3.81%. That compares favorably to 4.55% at standard odds of -110 on both sides of the bet. World Series odds are available for all MLB teams throughout the year.

Here are the World Series odds from FanDuel as of May 11.

Again, we’ve listed just the top-10 betting favorites to keep things from getting unwieldy. These odds can change dramatically, so it’s always a prudent course of action to compare them at different sportsbooks. The Cubs, for example, were +10000 at FanDuel, but they were +25000 at DraftKings. That’s a significant difference in your odds and potential payout. That’s why it always pays to shop around.

NHL Odds

NHL betting lines include the puckline (spread), moneyline, and total. Stanley Cup championship odds are available throughout the season, and the year, for that matter. Starting goaltenders can be a key consideration when it comes to calculating hockey odds. Betting on individual player performances via prop bets can really enhance your wagering experience. You can bet on the number of shots, assists, goals, and points a player will have during a game.

The NHL Playoffs were taking place at the time of this review. Here were BetMGM’s Stanley Cup futures odds as of May 11.

College Football Betting

College football betting lines mirror those offered in the NFL. One major difference in NCAAF involves restrictions on betting games involving in-state teams. In New York, for example, state residents can’t place bets on Syracuse’s football team. The College Football Playoff ultimately crowns the collegiate football champion each year, but there are a lot of other bowl games that are fairly meaningless unless you like to wager on them.

College Basketball Betting

College basketball betting lines will appear the same way as the those offered in the NBA. The same restriction mentioned on Syracuse above holds for basketball, too. March Madness brings each NCAAB season to a close. A field of 68 teams competes for college basketball’s ultimate prize. Futures odds are available on the winning team all year long. Kansas defeated North Carolina in last year’s NCAAB championship game.

PGA Tour Golf Odds

Golf betting is fun throughout the year. The PGA Tour’s wraparound season started last fall and continues until the end of August. PGA Tour odds are calculated using two key data pieces. A player’s current form is the first. Has he consistently placed in the top-10 or top-20 in recent events? The other factor involves a player’s past performance at the course hosting the tournament. Picking an outright winner in golf is difficult with fields including as many as 144 players.

The good news is you can bet one player to beat another in a matchup bet. You can also wager on a player to finish in the top-10, top-20, or top-30. Prop bets are also available. Will there be a hole-in-one during the tournament? That’s a good example of a prop bet, which has nothing to do with the actual outcome of the tournament.

UFC Betting

UFC betting and MMA betting have grown in popularity in recent years. Mixed martial arts events can be brutal displays of fighting. Here are odds on the recent match between Jessica Andrade and Amanda Lemos. Andrade was a -200 favorite at BetMGM and Lemos was the +175 underdog at DraftKings. Typically, you will find several prop bets on UFC matches. Here are some that DraftKings offered on the Andrade-Lemos match: 

• Lemos by decision (+650)
• Lemos by submission (+1000)
• Lemos by KO/TKO/DQ (+350)
• Andrade by decision (+240)
• Andrade by submission (+600)
• Andrade by KO/TKO/DQ (+175)

You can also bet on in which round the fight will finish. 

Soccer Betting 

Soccer betting is also popular, especially wagering on the English Premier League and the World Cup. The 2022 World Cup will take place in November in Qatar. Let’s use the 2018 World Cup championship betting line to discuss how soccer odds work. 

This was the betting line for the 2018 World Cup championship match in regulation time, which consists of 90 minutes of play and extra time added for injury breaks. France was the betting favorite at standard -110 odds, meaning you would have had to bet $110 to win $100. A $100 bet on Croatia would have paid out $360 if the underdog had won.

We know that was not the case as France prevailed by a score of 4-2. In addition to France winning, the game went way over the total of two goals. This is the combined total of goals scored by both teams. A $165 bet on the over paid out $100 (and you also received your initial $165 stake back). 

Prop Bets 

Prop bets are also available when it comes to soccer betting. There are individual prop bets on players to score a goal, for example. There are team prop bets on the number of yellow cards or corner kicks a team will have in a match. 

What Affects Sports Betting Odds Throughout A Season? 

Oddsmakers have a lot to consider when creating the betting lines for several different sports. Injuries are a big factor especially when they involve major players. Covid-19 cases also fit into the injury category and they had a major impact on betting odds during the pandemic the past couple of years. You also have to factor in trades or key draft picks when calculating odds on teams.

Weather can also play a factor in games that are played outdoors in inclement weather. Think about the Green Bay Packers playing a home game at Lambeau Field in January. It’s not just freezing cold, rain, or snow since heavy winds can impact the passing attack and the game’s total. 

Texas Betting Odds FAQ